How You Can Validate The Product Idea For Ecommerce

By James Tredwell on May 31, 2019

Do you have a great product idea which can turn over mankind?

You will surely want to test it against a few product validation methods before jumping in with the idea. Indeed, do not start to invest more time and energy into your product until and unless you determine whether it is going to be viable or not.

The only way to make sure whether it is actually viable is by taking help of few validation methods that will get you an idea about the market consumers whether they are interested in purchasing your product idea.

#1. Go for Cash Register

The very first and foremost way to validate your product is to prioritize sales as nothing is more important than the customers who are seeing the value in your product and exchanging it for the money.

Always remember that it is a vital part of your business building to talk to some potential customers until and unless the people pay you their list of assumptions. You can also try to figure out the right path in the right direction by taking help of some market research, surveys and feedbacks as the real validations only begin after setting an appropriate strategy. This will happen after a few sales where complete strangers will purchase your product and you will get to know if that has fulfilled their need.

#2. Concentrate on Competitive Analysis

When you are in the ideation stage or want to sell your product, ‘Research’ can become useful as by exploring the market trends in real-time helps you to mitigate risks and boosts confidence in your ideas before spending too much of time and money. Ensure to evaluate the market before launching your product to see if there is enough demand to build a viable business. There always exists a healthy market to sell by your products if you pay a little attention at your direct competition and find out what are they doing compared to what you are planning to do.

Discover your competitors using Google search and also you can go for hashtags on Instagram, Pinterest or Facebook. Research on how your competitors are interacting with their customers on social media though posts and products. With all of these tactics, you can check out the negative feedback about your product and also search for some new ways to improve them.

#3. Catch the Trends

Go for analyzing the demand and search volume in order to validate your product and its market. You can try your hands on Google Trends — an open source and free tool which allows you to check how often customers have been looking for your product and analyzes the market behavior to make a more informed decision for figuring out which type of products are trending up or being stagnant.

After having the sense of your customer base, it is vital to find better ways to communicate with them so they can provide some feedback. A free survey can be added into your web development which is considered as one of the quickest and easiest ways to provide friends and family with your minimum viable product and gather feedbacks.

#4. Consult your Customers in-person

You can also try to recommend them to sign up for a craft show or a local market. This will help to provide a convenient way to gather quick and first-handed feedback from potential customers. Selling the product in person adds an extra benefit of a strict deadline which you need to take action for. Such deadlines act as a forcing function which will help you to get your products ready and to get yourself ready by selling them.

Go searching for the markets that fit well in your brand or product. Consider a set of questions ready to ask customers like their preferences on color and flavor and what if they compete products they are currently using. In the end, test the different price points to check if a certain price works the best for your product when you are in your early stages.

The Road Ahead

It is vital for all the entrepreneurs to keep in mind not to let validation turn into any kind of procrastination. It is useful to do the initial legwork in order to validate your product as it boosts your confidence by giving yourself out there and avoid any costly mistakes by saving time and money.

Every product has to learn ad they grow and so companies will need to predict how everything will play out with just delays from shipping to selling a real product. Dipping your toes in the water can actually teach you a lot but all your personal research and analysis can ultimately get you to the top of that pivotal moment when you finally dive in.

This article is contributed by Stephanie Donahole,Business Analyst at Tatvasoft Australia — web development company in Australia

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